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Macroeconomics  |  August 17, 2012 14:55:00

German lawmakers demanding reform of the electoral system, the ECB

Several lawmakers coalition Angela Merkel calls for reform of the electoral system of the European Central Bank and the strengthening of German influence. Conveys disapproval of Europe's largest economy with a plan to buy bonds the central bank's problem countries. The chancellor is not yet approach the President's Mario Draghi not concerned.

However, most people are already frustrated with rescue heavily indebted euro area countries. German commitments already reached 310 billion euros.The plan to buy bonds of Spain and Italy to reduce the high cost of servicing the debt financing would actually mean that governments and the central bank do not. At the same time expressed the view that should be alleviated pressure on the pace of fiscal consolidation.

"The purchase of bonds by the ECB on the secondary market must remain an absolute exception," he told Reuters CSU chairman Stefan Müller. As an illusionist rejected the debate on the reform of the electoral system in the Council of the ECB, Michael Meister of the CDU, Democrat Frank Schaeffler contrary, stressed the need for reform. He said that Cyprus and Malta has as many votes as Germany and it is a serious mistake.


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